PUBLIC HEARING SET FOR APRIL 10, 2003 ON PROPOSED GOLDEN GATE TRANSIT FARE INCREASES

A public hearing will be held on
Thursday, April 10, 2003 at 9:30 am in the Golden Gate Bridge, Highway and
Transportation Districts (District) Administration Building, Golden Gate
Bridge Toll Plaza, Board Room (second floor), San Francisco, to hear public
comment on a proposal to increase Golden Gate Transit and Golden Gate Ferry
fares effective July 1, 2003.

Fares are proposed to
increase on July 1, 2003 as follows:

A) Golden Gate Transit bus fares are proposed to
increase by 5%. Adult cash fares
will increase from .15 cents to .30 cents depending on the length of the trip.
For example, the adult cash fare for travel between San Rafael and San Francisco
is proposed to increase 15 cents from $3.25 to $3.40; the adult cash fare for
travel between Novato and San Francisco is proposed to increase 20 cents from
$3.95 to $4.15; the adult cash fare for travel between Santa Rosa and San
Francisco is proposed to increase 30 cents from $6.30 to $6.60.

B) Golden Gate Ferry fares are proposed to increase at a higher
percentage to bring them into greater parity with other ferry fares in the Bay
Area market. Presently, the average adult cash fare on the Bay is $6.25 and the
average discount fare is $4.25.

Current
Larkspur Ferry Fares

Larkspur weekday

Larkspur

Weekend

Recommended Fares Everyday

Commuters Using
Ride Value Discount Tickets

$2.60

$2.60

$3.50
(increase of 90 cents or 35% increase)

Adult Cash Fare

$3.25

$5.60

$5.60
(increase of $2.35 or 72% increase for weekday
fares only
)

Senior/Disabled

$1.60

$2.80

$2.80
(increase of $1.20 or 75% increase for weekday
fares only)

Youth Cash Fare

$2.45

$4.20

$4.20
(increase of $1.75 or 71 % increase for weekday fares
only)

> >

Current
Sausalito Ferry Fares

Everyday

Recommended Fares

Commuters Using
Ride Value Discount Tickets

$2.12

$3.00
(increase of 88
cents or 42% increase)

Adult Cash Fare

$5.60

No change

Senior/Disabled

$2.80

No change

Youth Cash Fare

$4.20

No change

C) Intercounty paratransit fares: 2.5% increase.

D) For Local bus service in Marin County, operated under a contract with
Marin County Transit District (MCTD) by GGT, fares will be increased by MCTD at
a rate set by that agency.

A five-year program of annual fare increases
was implemented in 1998 and ends on June 30, 2003. These increases were necessary to provide
operating revenue
to cover at least 33% of operating cost and averaged 4.5% annually over the
five-year period.

The proposed July 1, 2003 fare
increase is intended as a one-year, interim fare increase given the upcoming
major restructuring of transit services set for public discussion over the next
four months and the potential impact on transit riders. This interim fare increase is
recommended with the understanding that a comprehensive five-year fare program
would be developed after transit service restructuring plans are implemented in
September 2003 and the results of the service restructuring are incorporated
into an updated financial projection.

The Districts Strategic Plan (Plan)
for Achieving Long-Term Financial Stability calls for revenue generation to contribute $57
million of the $202
million needed to balance the next five years. The remaining $145 million would come from expense
reduction. Transit fares are just
one component of the $57 million target for revenue generation.

Additional Background on Strategic Plan for
Achieving Long-Term Financial Stability
The Golden Gate Bridge Highway and
Transportation District adopted a Strategic Plan for Achieving Long-Term
Financial Stability in late June
2002 and updated in October 2002. The Plan was created as a guide to bring the
current projected 5-year shortfall of $202 million into balance. The Plan includes, but is not
limited
to the following examples:

Expense
reduction strategies under consideration:

First round of
transit service cuts to be implemented on March 9 and 10, 2003, saving the
District about $2 million annually.

Second round of
transit service cuts targeted for implementation on September 15, 2003, to save
up to $25 million annually.

Work
with Unions during negotiations to achieve a program of cost containment
strategies.

Maximize
revenues from visitor-related services through reduced operating costs for the
Bridge Gift Center and Café, and by increased revenue generation through
expanded concession opportunities.

Expand existing
advertising revenues through District buses, ferries and facilities.

Toll Increase
Program: Alternatives underwent extensive public review, culminating in an
increase from $3 to $5 for cash and $3 to $4 for FasTrak effective September 1,
2003. Additional revenue estimated
at $138 million over the five-year period or about $28 million annually.

Voluntary
donation program at the Bridge that will be launched this spring.